When tensions ease up, the market tends to reshuffle its bets. We've seen this play out recently—traditional stocks, especially banking and big-tech names, have been catching bids as geopolitical headwinds start to fade. But here's the flip side: that same de-escalation is weighing on defensive plays. Oil and gold, which typically thrive in uncertain times, are sliding lower. Crypto is following suit, taking a hit alongside commodities as investors rotate out of safe-haven assets. It's the classic risk-on trade unfolding—capital flowing from "safe" bets into equities while leaving energy, precious metals, and digital assets in the dust. The narrative here is straightforward: when the world feels safer, high-beta assets feel less essential.